NOV Bags Pipe Supply Deal for Eni’s OCTP Project
Flexibles, a Group of National Oilwell Varco (NOV), has been awarded a contract to supply flexible pipe structures for Eni’s Offshore Cape Three Points (OCTP) project offshore Ghana.
In total, Flexibles will supply in excess of 120km flexible pipe structures, including a variety of flexible risers and flowlines, during 2016 and 2017.
The award of this hugely important and massive project is the result of a long-standing dedicated strategic effort to increase the value proposition of flexible pipe systems, says President, Subsea Production Systems, Michael C. Hjorth. Even in the current challenging market conditions we persevere in our efforts to expand our product offering. This order is a testament to the recognition in the market of the value of our efforts, and we are excited that Eni and its Partners Vitol and GNPC have shown NOV the confidence of being their nominated partner for the OCTP project.
The OCTP project is a deep offshore development located approximately 60 km from the Ghanaian Western Region’s coast. It comprises oil and non-associated gas fields and will access around 41 billion cubic meters (1.45 Tcf) of gas and 500 million barrels of oil in place.
According to Eni, first oil is expected in 2017, first gas in 2018 and the peak production will be 80,000 boed in 2019.
Eni, through its own subsidiary Eni Ghana, is OCTP’s operator with a 47,22% stake. Other partners are Vitol with 37,77% and GNPC with 15%.